Project description
and objectives:
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The proposed project is a €50 million expansion of the regional Direct Lending Facility (the “DLF” or “Facility”) to provide smaller loans to primarily medium to large-sized local private companies in the Early Transition Countries (ETCs) (Armenia, Azerbaijan, Georgia, Kyrgyz Republic, Moldova, Mongolia, Tajikistan and Uzbekistan) and Turkmenistan which meet established investment criteria. It was originally approved by the Board of Directors on 23 March 2004 for an amount of €20 million; an additional €20 million allocation was approved by the Board of Directors on 6 March 2006; and a further €30 million allocation was approved by the Board of Directors on 17 April 2007.
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Sub-projects:
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- DLF - Berad-Agro
- DLF - DENO Gold
- DLF - Mekhnat Pivo
- DLF - Cotton Corporate Limatex WC Facility
- DLF - JV Green World
- DLF - Bazenc CJSC
- DLF - CJSC Komron Agro Holding (KAH)
- DLF - Karven Village
- DLF - Aqua Vita
- DLF - Orion Hotels
- DLF - Orhei Vit Cannery
- DLF - Oltin Taqa
- DLF - M&P Tajikistan
- DLF - BTM TEKSTIL
- DLF - Karven Four Seasons
- DLF - Georgian Hazelnut Production Ltd
- DLF - Lomisi
- DLF - Imkon Plus
- DLF - Hydro Corporation
- DLF-Mekhnat Pivo II
- DLF- Joint Stock Company LAL
- DLF-CJSC Komron-Agro-Holding ("KAH II)
- DLF - Malika Hotel Khiva
- DLF - Vitafit
- DLF - Shen Concern
- DLF - Travertine
- DLF - Geosan LLC
- DLF - Bravo
- DLF - Telecom Technology
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Transition impact:
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The Facility as well as the expansion will improve access to finance for local private companies in ETCs and Turkmenistan. These companies constitute one of the most dynamic segments of the local economies. By supporting the best local private companies, which are committed to improving their corporate governance, business conduct and environmental standards, the Facility is expected to enhance competition in their respective markets and provide incentives to other companies in ETCs and Turkmenistan to adopt similar good business practices.
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The client:
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Private medium-sized companies incorporated in ETCs and Turkmenistan.
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EBRD finance:
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€50 million in addition to the previously allocated €70 million.
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Total project cost:
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€50 million.
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Environmental impact:
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Individual projects will be screened on a case-by-case basis and environmental due diligence conducted accordingly. Individual projects will be required to comply, at a minimum, with national health, safety and environmental regulations and standards. The Bank will receive annual environmental report from the borrowers.
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Technical
cooperation:
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A TC framework, the ETC Multi-Donor Fund, has been established to support sub-project due diligence with donor funding. In the case of Turkmenistan, to the extent that suitable bilateral funding cannot be mobilized, the necessary funding will be sought from the Shareholders Special Fund.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Irina Kravchenko,
Head of Direct Lending and Co-financing with Local Banks,
EBRD
1 Exchange Square, London, EC2A
E-mail: kravchei@ebrd.com
Tel:+ 44 20 7338 6739
Fax: +44 20 7338 6239
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EBRD contact:
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Irina Kravchenko, Operation Leader: kravchei@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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